The Nigerian Exchange Group (NGX Group), a leading African market infrastructure provider, has taken a bold step in advancing Nigeria’s climate goals by securing significant funding from DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution (DEG). The partnership, sealed in Cologne, Germany, will kickstart NGX Group’s flagship Net-Zero Programme (N-Zero), aimed at supporting Nigeria’s private sector in cutting carbon emissions and enhancing climate resilience.
The funding, secured under DEG Impulse’s develoPPP programme—an initiative supported by Germany’s Federal Ministry of Economic Cooperation and Development (BMZ)—is expected to catalyse low-carbon development across Nigeria’s business landscape. Though financial terms were not disclosed, sources say the agreement unlocks a multi-billion-naira commitment towards sustainable business transformation in Nigeria.
Supporting Nigeria’s Climate Commitments
The N-Zero Programme will equip Nigerian companies with critical tools, technical guidance, and international best practices to set and meet science-based emissions reduction targets aligned with the Paris Agreement. The initiative is also positioned to help businesses develop credible transition plans and carbon reduction projects that can generate verifiable carbon credits for the global market.
NGX Group will work alongside global and regional partners, including implementing partner Africa Foresight Group (AFG), to enable businesses to access climate finance opportunities, strengthen their environmental performance, and build long-term economic resilience.
Speaking on the significance of the partnership, Temi Popoola, Group Managing Director and CEO of NGX Group, stated:
“This milestone demonstrates the strong confidence of international partners in NGX’s vision to champion sustainable finance and climate action in Nigeria. Through the N-Zero Programme, we are determined to help Nigerian corporates translate their sustainability ambitions into measurable emissions reductions and unlock emerging opportunities in the global carbon market.”
NGX Group Chairman, Alhaji (Dr.) Umaru Kwairanga, added:
“This initiative positions NGX Group as a climate leadership force in Africa. As we roll out the N-Zero Programme, we remain committed to innovation, sustainable development, and creating long-term value for the Nigerian economy. Capital markets have a vital role to play in climate solutions, and this partnership is a powerful example of what global collaboration can achieve.”
German Partners Reinforce Climate Goals
Also speaking at the signing ceremony, Dr. Hubertus Pleister, Managing Director of DEG Impulse, noted that the partnership aligns with Germany’s broader mission to promote resilient markets in emerging economies:
“With the support of BMZ, this initiative helps NGX address climate risks while fostering strategic innovation. Together, we are advancing the resilience of Nigeria’s capital markets and creating long-term climate impact through sustainable business practices.”
Emissions Reduction Targets
Scheduled to run from June 2025 to April 2027, the N-Zero Programme is projected to cut or avoid an estimated 20,000 tons of greenhouse gas emissions. It will support at least 26 Nigerian companies in adopting rigorous environmental and social standards and enable access to carbon markets through carbon credit registration and emissions offsetting.
The initiative reflects NGX Group’s commitment to the United Nations Sustainable Development Goal 13 (Climate Action) and supports Nigeria’s transition towards a sustainable, low-carbon economy.
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